Qsemble Capital Management LP Increases Stake in Alcoa Co. (NYSE:AA)

Qsemble Capital Management LP lifted its position in Alcoa Co. (NYSE:AA) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,306 shares of the industrial products company’s stock after acquiring an additional 5,547 shares during the quarter. Qsemble Capital Management LP’s holdings in Alcoa were worth $2,249,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AA. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Alcoa in the 2nd quarter worth approximately $93,061,000. Marshall Wace LLP lifted its holdings in Alcoa by 770.9% during the second quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after buying an additional 1,259,430 shares during the period. Global Alpha Capital Management Ltd. bought a new stake in Alcoa during the 3rd quarter valued at $36,165,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Alcoa by 32.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company’s stock valued at $72,862,000 after acquiring an additional 467,986 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Alcoa by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock worth $49,958,000 after acquiring an additional 444,393 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AA has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Wednesday, September 4th. BMO Capital Markets raised their target price on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Morgan Stanley upped their price target on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.08% of the stock is owned by company insiders.

Alcoa Stock Performance

AA opened at $47.24 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa Co. has a 12-month low of $23.80 and a 12-month high of $47.44. The firm has a 50 day moving average of $40.73 and a two-hundred day moving average of $38.02. The firm has a market capitalization of $12.20 billion, a PE ratio of -26.84, a P/E/G ratio of 0.87 and a beta of 2.42.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.14) earnings per share. On average, analysts anticipate that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.85%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.